The Abu Dhabi Global Market (ADGM) has introduced new legislation designed to create a robust regulatory framework for appointing company service providers (CSPs).

According to offshore law firm Maples Group, the framework will leverage international best practice, amid intensified international demand for the registration of ADGM special purpose vehicles (SPVs) and foundations. 

All SPVs and foundations that do not qualify for one of the exemptions will need to take immediate action and appoint a suitably licensed CSP.

The new regulations aim to provide a proportionate and balanced CSP framework.